What is National Insurance?
When you have a job, tax and National Insurance are deducted from your wage to pay into your State Pension and other benefits. NI is 12% of your wage or more.
When you have a job, tax and National Insurance are deducted from your wage to pay into your State Pension and other benefits. NI is 12% of your wage or more.
Contracts are legally-binding agreements, meaning that you must fulfil the terms of the contract otherwise legal action may be taken against you.
Priority debts should be paid off first, not necessarily those with the highest rates: mortgage/secured loan/rent, tax, and utility bills.
Don’t sign up for anything until you know the full costs; make sure you will be able to afford them. This includes sign-up costs, ongoing costs and exit costs.
Don’t open accounts at shops if you have no job. It needs to be paid back, and can legally be claimed back from you.
Credit cards have to be paid back. Don’t have one unless you earn enough to cover the repayments plus interest.
Make a budget: so you can understand what money you have coming in and exactly where it is being spent. Learn to keep it balanced and not live beyond your means.
A chinese takeaway is one meal at £7 per person. For the same amount you can buy a few days worth of food, and your money can go a lot further. Make yourself a fakeaway instead!